After consolidating its presence in major cities in the domestic market, footwear and apparel firm Woodland plans to focus on tier II and III cities during the next two to three years as part of its growth strategy, a top official said.
The company plans to open 60 stores in the country in tier II and III cities, according to Woodland India Managing Director Harkirat Singh.
"With huge consumer demand, we are growing consistently across malls as well as tier II and III cities. Though the presence is still skewed towards the metros, our growth trends will soon be changing this to a 50:50 split in the next two to three years", Singh told PTI.
At present, Woodland has over 480 exclusive stores in the country. As part of strengthening its presence overseas, the company is also studying the market to set up one exclusive store in China, Australia and CIS (Commonwealth of Independent State) countries this year.
Singh said the company has a strong presence in 40 countries through various partnerships. "This year we have opened our first exclusive store in Hong Kong. We are also studying other international markets such as China, Australia and CIS countries. Hopefully by this year, we should have one store in each of the above countries", he said.
On setting up exclusive stores in overseas market, he said, "Every market is unique in itself and thus, it makes utmost sense to partner existing market player to test our products and seek the market feedback.
